New York (agencies)
Economic analysts at the American banking group Bank of America expect a significant decline in stock and bond prices in the coming months, in light of the rush of investors to accumulate cash in a way that has not happened since the emerging Corona virus pandemic in 2020.
The team of analysts, led by Michelle Hartnett, said in a report carried yesterday that “the stock and credit markets have a strong appetite for cutting interest rates and do not fear recession enough,” adding that stocks and bonds with good credit ratings will suffer a blow during the next three or six months. Bloomberg news agency stated that the US financial markets are currently on the brink, in light of the collapse of a number of US banks and the failure of the Swiss Credit Suisse bank, which its competitor UBS intervened with the support of the Swiss government to buy it.
